11 Jul 2014
USD/JPY took early weekend around 101.30 area
FXStreet (Moscow) - USD/JPY stuck within extra narrow range of 101.21 – 101.38 not showing any desire to move anywhere.
Risk aversion came back
The pair is under pressure, and may continue to edge lower, if broad base risk aversion continues on Friday. The rumors on Portuguese Banco Espirito Santo’s default triggered the mass selling of stocks on fears of another Greek Case scenario. Lack of any economic events may only exacerbate the move with initial target to the downside at 101.04 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.36, with support below at 101.04, 100.75 and 100.43 with resistance above at 101.66, 101.98, and 102.27. Hourly Moving Averages are bearish, with the 200SMA at 101.71 and the daily 20EMA at 101.79. Hourly RSI is bearish at 44.
Risk aversion came back
The pair is under pressure, and may continue to edge lower, if broad base risk aversion continues on Friday. The rumors on Portuguese Banco Espirito Santo’s default triggered the mass selling of stocks on fears of another Greek Case scenario. Lack of any economic events may only exacerbate the move with initial target to the downside at 101.04 support level.
What are today’s key USD/JPY levels?
Today's central pivot point can be found at 101.36, with support below at 101.04, 100.75 and 100.43 with resistance above at 101.66, 101.98, and 102.27. Hourly Moving Averages are bearish, with the 200SMA at 101.71 and the daily 20EMA at 101.79. Hourly RSI is bearish at 44.